Quanta Services, Inc. (NYSE:PWR) Shares Sold by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,918 shares of the construction company’s stock after selling 524 shares during the quarter. Quanta Services accounts for about 2.2% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Bourgeon Capital Management LLC’s holdings in Quanta Services were worth $11,984,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PWR. Transform Wealth LLC raised its holdings in Quanta Services by 6.2% in the fourth quarter. Transform Wealth LLC now owns 42,256 shares of the construction company’s stock valued at $13,355,000 after acquiring an additional 2,471 shares in the last quarter. Alpha Cubed Investments LLC raised its stake in shares of Quanta Services by 0.7% in the 4th quarter. Alpha Cubed Investments LLC now owns 188,333 shares of the construction company’s stock valued at $59,523,000 after purchasing an additional 1,365 shares in the last quarter. First United Bank & Trust increased its holdings in shares of Quanta Services by 67.0% in the 4th quarter. First United Bank & Trust now owns 1,979 shares of the construction company’s stock valued at $625,000 after acquiring an additional 794 shares during the last quarter. Reliant Investment Management LLC lifted its stake in Quanta Services by 0.8% during the fourth quarter. Reliant Investment Management LLC now owns 27,346 shares of the construction company’s stock worth $8,643,000 after purchasing an additional 205 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Quanta Services by 44.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 545 shares of the construction company’s stock worth $172,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PWR shares. Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Citigroup boosted their price objective on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

Quanta Services Price Performance

NYSE PWR opened at $358.12 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $52.86 billion, a price-to-earnings ratio of 66.07 and a beta of 1.06. The company has a 50 day simple moving average of $330.11 and a 200-day simple moving average of $298.10. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $358.72.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 7.38%.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.